so you are saying she already calculated the loan amount plus
interest into the total amount of the HDB flat? let's work
backwards and calculate then... the current HDB loan interest in
2.6%
Total price is $500,000 after 30 years (let's take the maximum
tenure)
So definitely the purchase price is lesser than $500,000 since
she already factored in interest of 2.6% per annual for 30 years.
let me do the maths...
if i'm not wrong (i'm pretty bad at maths... flunked my
Engineering Maths during Poly)
i estimate that the HDB was bought at a mere $347,000 which in
my opinion is quite acceptable... the highest transacted is
$395,000... why is she complaining then? Valuation of the place is
then around $310,000. if we use the loan calculator at HDB website,
we can see that the monthly instalment is $1,215 bore by 2
persons...
if your pay is 2K, your CPF is as we know is $690 (34.5%) and 3K
= $1035
combine them together is $1,725. of course we know we have to
take up certain percentage for medishield and Special account.
$1.725 x 0.6667 = $1,150
if we see the numbers, we can conclude that TS did not have a
proper planning on her financials as she is still in the red after
all the deductions.
